Judge delays decision on Caesars bankruptcy protocols
CHICAGO — The bankrupt operating unit of casino company Caesars Entertainment Corp. agreed to grant creditors access to records through an independent examiner probing pre-bankruptcy deals, but a judge said on Wednesday he will wait until Monday to approve the agreement.
U.S. Bankruptcy Judge Benjamin Goldgar in Chicago said he would also decide then whether to grant creditors’ request for access to communications regarding the likelihood of success of the largest U.S. casino operator’s restructuring plan.
The casino operator, a unit of Las Vegas-based Caesars Entertainment Corp., went bankrupt in January with $18 billion in debt.
The case is overshadowed by creditors’ allegations that the parent company’s private equity owners, Apollo Global Management and TPG Capital Management, looted the operating unit of its best casinos in the years leading up to the bankruptcy.
Goldgar earlier ordered an examiner to investigate those allegations.
Shares of Caesars were down 10 cents, about 1 percent, to close at $9.31 on the Nasdaq.
